Better late than never, goes the saying. But in the case of elevator modernization, leaving it too long can cost you dearly. That’s why the best time to start planning your modernization is now. And we’ve got the advice to help you do just that.
Have you ever tried to get an ancient Walkman repaired? Even an old iPod? If you have, you’ll know that few places have the right parts. If you do find somewhere that can fix it, you could end up paying more than if you simply replaced your technology. Sure, the old tech has nostalgia value, but it can’t do half what the latest gadgets can.
It’s the same with elevators. While we can usually repair your equipment, at some point it makes sense to upgrade or modernize instead. Most elevators are more than 30 years old and reaching the end of their useable life. It’s best to plan ahead for updates or you risk leaving your tenants or visitors in the lurch when your equipment breaks down.
Updating your elevators can also boost the value of your property, improve energy efficiency and help you comply with the latest codes and standards.
Better to bite the bullet and get on with your elevator modernization before it’s too late. In this article we look at:
Elevator modernization can seem daunting. But the first step is simple: you just need to determine if the needs of your elevator or escalator have changed, or if there’s a problem with your equipment.
The lifespan of an elevator is usually 25-30 years. You might sensibly assume that if your elevator is around that age, you should modernize it. But there are many factors that can shorten the life of the elevator. For example, how many trips it makes per day, or if it’s used for carrying heavy equipment.
By answering some important questions, you can decide if your elevator should be modernized in the near future:
If you answered ‘yes’ to any of these questions, then you should seriously consider a modernization. The next step is understanding what type of modernization best suits your needs.
There are two main types of modernization available:
This type of modernization addresses the biggest problems in your elevator with packages that upgrade specific components, such as the fixtures or the controller.
With a partial modernization, you can have the work done over time rather than all at once. This reduces the downtime of the equipment and the impact on your budget. You can start by targeting the most at-risk components and update the rest as the need arises.
With a partial modernization, you can also take advantage of some of the new technologies available. These include remote monitoring and servicing of the equipment. Depending on the options you select, you might also see improved energy efficiency. Always good for green credentials and your bottom line.
But there is a catch with a partial modernization. Many of the components will still need to be updated at a later date. This means the work takes longer, giving residents the impression that the elevator is ‘always’ being repaired.
This type of modernization works within the existing shaft space but replaces almost all of the existing elevator system (guard rails, for example, are often kept). This choice is the best if you want to completely renovate the interior or replace old-style doors (such as swing or manual doors) with the latest versions.
With a complete modernization, you get all the benefits of a new elevator while working within the available space. You increase the value of the building, and your tenants see a visible improvement. Plus, you can take advantage of the many energy efficient components that have been developed in recent years.
A complete modernization does need more time, typically around 3-5 weeks. If you only have one elevator, tenants will have to use the stairs for the whole of this period. Or, for a building with multiple elevators, the wait time for an elevator will be longer than normal. However, adding a destination dispatch system, like Schindler PORT technology, can help reduce wait times during the modernization. A complete modernization also needs more upfront financing, rather than spreading the costs over time.
Once you’ve decided what type of modernization is right for you, the next question is how do you pay for it?
In some countries, you can get government support, either via grants or tax deductions, to help you make your elevator more energy efficient. It’s often possible to finance the modernization of elevators through a bank loan as well.
To help you decide which modernization is right for you and understand the financing options available, get in touch. We carry out a thorough assessment of your equipment and share these results with you. Based on this information, we provide transparent recommendations about the best options for your building. And, if there are government programs and financing programs available in your country, we can even help you apply.
There’s another saying that’s more suited to elevator modernization: never put off until tomorrow what you can do today. So, don’t leave your elevator in the past.Get started on your plans as soon as possible. Your tenants, and your accountant, will thank you.